Wednesday, May 04, 2022 10:09:44 AM
Nielsen was a large Arrayit shareholder, and deceived Arrayit investors by communicating materially false and misleading information the existence of genuine supply and demand for Arrayit securities and the nature of his personal financial stake in Arrayit securities, all in order to fraudulently induce other investors to purchase Arrayit securities and thereby drive up the stock’s price. At the same time, Nielsen was secretly selling his own previously acquired shares at an artificially inflated price.
Another defendant in the Northern District of California pleaded guilty to the scheme in April 2022. U.S. Attorney Hinds described additional schemes being prosecuted in the Northern District of California in a video.
https://www.sanjoseinside.com/news/covid-19/justice-department-announces-nationwide-arrests-for-covid-19-fraud-including-two-locals/
Video here:
The paradox of iHub: buy high, sell low
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